Nigeria Loses N2.7 Billion Daily to Trans Ramos Pipeline Shut-in

With the current price of Brent crude oil at N75 per barrel during the trading hours of Monday, Nigeria is losing about N2.7 billion daily, as the 100,000 barrels per day (bpd) Trans Ramos Pipeline in the swamps of Western Niger Delta remain shut. The Shell Petroleum Development Company of Nigeria Limited (SPDC) confirmed four leak points on the 100,000 barrels per day Trans Ramos Pipeline at the weekend. Shut-in of crude oil pipelines has remained one of the biggest challenges of Nigeria’s oil sector. Latest data from the Nigerian National Petroleum Corporation (NNPC) showed that about 163,000bpd was shut-in for the entire month of December 2017, due to facility integrity issues. Also, the Trans-Niger Pipeline (TNP) was shut down from 13th to 17th December 2017, due to leaking crude oil theft point in the Bodo area, which resulted in the production shut-in of about 120,000 barrels for five […]